Analysts Set Schlumberger Limited (NYSE:SLB) Price Target at $67.00

Shares of Schlumberger Limited (NYSE:SLB) have received an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $66.29.

SLB has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Citigroup dropped their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Piper Sandler decreased their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Morgan Stanley decreased their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, UBS Group reduced their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 in the last ninety days. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors increased its stake in shares of Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Norges Bank acquired a new stake in shares of Schlumberger in the fourth quarter valued at $1,000,292,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after buying an additional 10,606,191 shares during the period. Winslow Capital Management LLC raised its position in Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after acquiring an additional 4,344,141 shares in the last quarter. Finally, Boston Partners raised its position in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 0.8 %

NYSE SLB opened at $42.41 on Monday. Schlumberger has a 52 week low of $38.66 and a 52 week high of $61.41. The stock has a market cap of $60.62 billion, a P/E ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $44.48 and its 200-day simple moving average is $47.36.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Equities research analysts predict that Schlumberger will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.59%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.